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The Collaborative International Dictionary
Depreciative

Depreciative \De*pre"ci*a`tive\ (d[-e]*pr[=e]"sh[i^]*[=a]`t[i^]v or d[-e]*pr[=e]"sh[.a]*t[i^]v), a. Tending, or intended, to depreciate; expressing depreciation; undervaluing. -- De*pre"ci*a`tive*ly, adv.

Wiktionary
depreciative

a. tending to depreciate (in value etc.)

WordNet
depreciative
  1. adj. tending to decrease or cause a decrease in value; "a depreciating currency"; "depreciatory effects on prices" [syn: depreciating, depreciatory]

  2. tending to diminish or disparage; "belittling comments"; "managed a deprecating smile at the compliment"; "deprecatory remarks about the book"; "a slighting remark" [syn: belittling, deprecating, deprecative, deprecatory, depreciatory, slighting]